human capital

"So-called human capital in macro-economics is simply the amount of financial capital required to yield the human's salary. A typical objective of macro-economic optimization is so-called "balanced growth"."

The term is also sometimes used to describe the aggregate function of individual capital, social capital and instructional capital - more fundamental capital assets. It is common in the literature to interpret "human" as meaning "the individual" ignoring social and instructional co-factors in production:

"Human capital... has the unique capacity to rest (Acquisti, Baldassarri, 1998), create and re-create, optimizes the non-human. In turn, the non-human capital is expected to support and nurture human comfort, creativity and talent" at least in private sector organizations that increasingly take what seems more like a human development theory approach:

"In Leif Edvinssion's view, derived from his work in a large private sector organization (Skandia), the "structural capital" (social and instructional elements of an organization) is differentiated from the raw "human". The term individual capital is preferable, as it is specifically/only the talent/creativity of the individual that is left once the organization's contribution is filtered out."

However some public sector work takes a similar approach: "Richard Florida's analysis of the so-called "creative class" focuses specifically on developing individual talent and has been very influential in the context of municipal government" including Toronto and Halifax in particular - see Toronto's real capital for one such analysis.

The human capital work is today mostly noteworthy for the way it fits relatively neatly into the more fundamental natural capital analysis: "In Hawken, Lovins, Lovins, 1999 "Natural Capitalism", "human capital" is differentiated from financial, "manmade" or infrastructural, and natural capital, this last being the infrastructure of nature itself providing nature's services, e.g. protection, pollination and ecological yield."

Similarly, human capital produces a financial yield! This symmetry may allow for continued use of macro-economics in a relatively unchanged form, as a means of managing money supply and directly relating measuring well-being to ecological yield management of the "interest on natural capital" defined by Ronald Wright and David Suzuki.

hubley.org cite human capital, this portion released for fair dealing or for re-incorporation in definitions under CC-by-nc-sa.